### What does the term "Fixed Time" refer to in real estate? - [x] Specific weeks in a year that an owner of a timeshare has access to the property - [ ] The fixed time required to sell a property - [ ] The fixed interest rate period on a mortgage - [ ] The fixed duration of a real estate lease > **Explanation:** In the context of real estate, "Fixed Time" refers to the specific weeks in a year during which an owner has the right to use a timeshare property. This arrangement is typically set in the contract when the owner signs up and is one of the oldest forms of timeshare ownership. ### What happens if the timeshare owner does not use their designated fixed time week? - [x] The owner forfeits the annual visit - [ ] The owner can use the week anytime later in the year - [ ] The owner receives a refund for that week - [ ] The owner can transfer the week to another person > **Explanation:** If the timeshare owner does not use their designated fixed time week, they forfeit the annual visit. The arrangement is strict, and the time is set in the contract without flexibility for unused weeks. ### How can some resorts offer more flexibility than the fixed week arrangement for timeshare owners? - [x] Allowing timeshare owners to choose a week in a given season - [ ] Changing the fixed week to any time during the year - [ ] Splitting the week into several shorter periods - [ ] Offering the choice between several months > **Explanation:** Some resorts offer more flexibility than the fixed week arrangement by allowing timeshare owners to choose a week within a given season, such as summer, rather than requiring visitation during a specific pre-set week. ### What is one of the older forms of timeshare ownership? - [x] Fixed time arrangement - [ ] Floating time arrangement - [ ] Points-based system - [ ] Fractional ownership > **Explanation:** The fixed time arrangement, where the owner chooses a specific week during the year to stay at the location, is one of the oldest forms of timeshare ownership. This arrangement requires the owner to adhere to the set week stipulated in the contract. ### Which of the following is true about fixed time timeshares? - [x] The time is set in the contract - [ ] Owners can select any week each year - [ ] Owners receive partial refunds for unused weeks - [ ] Owners can trade weeks without restrictions > **Explanation:** Fixed time timeshares have the specific weeks set in the contract that the owner has access to the property. This means the owner does not have the flexibility to choose any week each year, and there are usually no partial refunds for unused weeks, nor unrestricted trading of weeks.